Ill. Admin. Code tit. 38, § 110.370 - Lending Limits and Refinancing
a) No
title-secured loan shall be made in an amount that the scheduled principal and
interest payment for any one monthly payment on the loan exceeds 22.5 % of the
obligor's gross monthly income.
b)
The loan agreement shall advise the obligor that matters involving
improprieties in the making of the loan or in loan collection practices may be
referred to the Division and shall prominently disclose the Division's address
and telephone number, and website.
Notes
Amended at 33 Ill. Reg. 4142, effective April 1, 2009
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